SEOUL, April 15 (Korea Bizwire) — A recent surge in international cash transfers to gain profits from arbitrage between Bitcoin prices overseas and in South Korea, where the so-called ‘kimchi premium’ is added to boost the price of Bitcoin, has South Korean banks on alert. Ffive major banks — KB Kookmin, Shinhan, Hana, Woori and [...]
SEOUL, April 15 (Korea Bizwire) — The amount of investment in South Korean startups touched a record high in 2020 amid hopes of high returns and policy support, a state-run lender said Thursday. A total of 4.3 trillion won (US$3.85 billion) was invested in startups last year, up from 4.2 trillion won a year earlier [...]
SEOUL, April 14 (Korea Bizwire) — South Koreans’ overseas stock transactions touched a new high in the first quarter of the year on brisk investment in U.S. tech firms, data showed Wednesday. Local investors’ trading of overseas shares was valued at US$128.51 billion in the January-March period, up 96.5 percent from three months earlier, according [...]
SEOUL, April 12 (Korea Bizwire) — Investment funds in South Korea that consider environmental, social and governance (ESG) factors in investment decisions are emerging as a hot trend in the nation’s financial industry. The number of financial products that are classified as equity ESG funds among domestic public offering funds as of Thursday totaled 36 [...]
SEOUL, April 9 (Korea Bizwire) — South Korea’s top institutional investor National Pension Service (NPS) said Friday it will raise the ceiling for the portion of its “strategic” investment in local stocks, a move to help ease the fund’s selling spree to meet its stockholding target. Under the latest decision, the ceiling for the share [...]
SEOUL, April 7 (Korea Bizwire) — Foreign investors have been on a buying spree of South Korean stocks so far this month, picking up a net 2.2 trillion won (US$1.97 billion) worth of local shares, reversing their selling trend earlier this year. Offshore investors have been net buyers of local shares for five straight sessions [...]
SEOUL, March 18 (Korea Bizwire) — South Korean vaccine maker SK Bioscience Co. made a splash in its debut on the main bourse Thursday, closing at more than two times its initial public offering (IPO) price. Instantly after the opening bell, its stock price soared to the daily permissible ceiling of 169,000 won (US$149.43), up [...]
SEOUL, March 16 (Korea Bizwire) — The number of stock investors jumped nearly 49 percent in 2020 from a year earlier amid a bullish market run, industry data showed Tuesday. A total of 9.19 million investors held shares in 2,352 companies listed on the country’s main and secondary bourses, up 48.5 percent from a year [...]
SEOUL, March 16 (Korea Bizwire) – The market value of cryptocurrencies in South Korea has shot up nearly 10 times over the past three years amid keen investor interest, industry sources said Tuesday. According to local cryptocurrency exchange Upbit, its market index stood at 9,742.62 points as of 5:45 p.m. Monday, almost 10 times the [...]
SEOUL, March 10 (Korea Bizwire) — South Korean vaccine maker SK Bioscience Co. drew a record 64 trillion won (US$56 billion) in investor deposits during a two-day subscription period for its share sale, company officials said Wednesday. According to the officials, the deposits for SK Bioscience’s initial public offering (IPO) surpassed the two previous records [...]